Epstein Secrets

, revenues arisen from transactions held by Banco UBS Pactual SA. and/or its affiliates. Company Disclosures Company Name General Dynamics Corp..I Textron Inc.2• 4• 5•"•"" 4" It "' Reuters 12-mo rating Short-term rating Mice Price date GD.N Neutral N/A US$59.25 09Jun 2009 TXT.N Neutral N/A

009 and UBS esbmales for future periods. TXT PE multiple for the current period Sects our 2010 imamate. Source: UBS eslimales UBS 3 EFTA00775618 UBS Business Jet Update 10 June 2009 Available Inventory Levels We estimate 3,057 business jet aircraft available for sale at the end of May (including 2,878 used

ilability of customer financing, program execution and inventory management. Our estimates, ratings and price targets for both General Dynamics and Textron are subject to additional risks including poor program execution and government funding related to their defense and security businesses. Additiona

of this report. Investors should consider this report as only a single factor in making their investment decision. EFTA_R1_01473294 EFTA02411799 UBS Business Jet Survey 24 Mach 2010 Business Jet Market Survey Our UBS Business Jet Market Survey is designed to provide timely market data supplied directly by i

and, availability of customer financing, program execution and inventory management. Our estimates, ratings and price targets for General Dynamics, Textron and Rockwell Collins arc subject to additional risks including poor program execution and government funding related to their defense and security

s corn .1412413 3321 4; fl $7 .' 7 a' ingagtg.tgl 7.73 3. .7 ' Simple average B8BGOTTX3 Mock price performance index 'static. to SSP 500 Sawa: UBS Business Jet Survey Source. UBS Business Jet Survey This report has been prepared by UBS Securities LLC ANALYST CERTIFICATION AND REQUIRED DISCLOSURES BEGIN ON

ilability of customer financing, program execution and inventory management. Our estimates, ratings and price targets for both General Dynamics and Textron are subject to additional risks including poor program execution and government funding related to their defense and security businesses. Additiona

of this report. Investors should consider this report as only a single factor in making their investment decision. EFTA_R1_01519443 EFTA02443877 UBS Business Jet Survey 24 Mach 2010 Business Jet Market Survey Our UBS Business Jet Market Survey is designed to provide timely market data supplied directly by i